What Big Banks Say About Being ‘Screwed’ By Technological Change — Data Sheet

Adam Dell, the head of product for the Goldman Sachs consumer bank Marcus, delivered a zinger to the Brainstorm Finance audience in Montauk, N.Y., Thursday afternoon. “There are only two kinds of banks,” he said. “There are banks that are screwed. And banks that don’t know they are screwed.” Dell can be smug because his […]

Ripple CEO: Facebook Libra Cryptocurrency Push Makes Me Happy

Ripple CEO Brad Garlinghouse is adamant that Facebook’s unveiling of its Libra cryptocurrency will lead to big business for his banking software and cryptocurrency startup. “This is going to be a record week for Ripple,” Garlinghouse gushed Thursday during Fortune’s Brainstorm Finance conference in Montauk, N.Y. Garlinghouse said it was a “fact” that Facebook’s Libra […]

Facebook’s Libra Cryptocurrency and Its Generational Divide — Data Sheet

Facebook’s Libra announcement notwithstanding, a generational divide–attributed more to commercial interests than age–remains between Team Blockchain/Cryptocurrencies and Team Traditional Finance. Over and over at Fortune‘s inaugural Brainstorm Finance conference in Montauk, N.Y., Wednesday the chasm was clear. One side believes nearly religiously in a future that is nifty but has demonstrated next to zero utility. […]

Andreessen Horowitz: How Facebook’s Libra Cryptocurrency Will Be Governed

Everyone is talking about Libra, Facebook’s big splash in the cryptocurrency space, announced on Tuesday. But on Wednesday at Fortune’s inaugural Brainstorm Finance conference in Montauk, N.Y., Venture capital firm Andreessen Horowitz made one thing clear: It will have just as much power as Facebook in overseeing the governance of the new digital currency. Kathryn […]

Facebook’s Digital Currency Is a ‘Long Way From Launch’ but It’s Already Under Government Scrutiny

Facebook Chief Operating Officer Sheryl Sandberg said Wednesday that the company’s planned cryptocurrency coin is a “long way from launch,” but policy makers are already gearing up to scrutinize it with U.S. lawmakers planning to hold a hearing next month. “Regulators have concerns,” Sandberg acknowledged Wednesday in an interview with Bloomberg TV at the Cannes […]

Wall Street’s Titans Meet Fintech’s Purple-Haired Innovators—Data Sheet

This is the web version of Data Sheet, Fortune’s daily newsletter on the top tech news. To get it delivered daily to your in-box, sign up here. Timing is everything in life, and I’m pleased as punch that Fortune is convening its first-ever Brainstorm Finance conference Wednesday in Montauk, N.Y., at the eastern tip of […]